Janus Henderson AAA CLO ETF
Janus Detroit Street Trust · 1 share class
Fund classification
Classified from what the fund holds · as of 2026 Q2
Janus Henderson AAA CLO ETF is an actively managed U.S. bond ETF.
- Asset class
- Bonds
- Region
- United States
- Management
- Actively managed
- Fund type
- ETF
- Credit quality
- Investment grade
- Rate sensitivity
- Short duration
Fund profile
As filed in the prospectus · 2026 Q1
Janus Henderson AAA CLO ETF seeks capital preservation and current income by seeking to deliver floating-rate exposure to high quality AAA-rated collateralized loan obligations (CLOs).
The fund invests at least 90% of assets in AAA-rated collateralized loan obligations, which are floating- or fixed-rate debt securities backed by portfolios of below-investment-grade corporate loans selected by CLO managers. Portfolio management applies bottom-up analysis of individual CLOs and their managers' investment processes, credit discipline, and track records to select securities expected to offer attractive risk-adjusted returns. The fund concentrates its holdings, limiting any single CLO to 5% of the portfolio and CLOs from a single manager to 15%, which means performance depends materially on the quality of those concentrated positions. The fund may hedge foreign currency exposure and use interest rate swaps to convert fixed-rate CLOs to floating-rate, and limits fixed-rate CLOs to 10% of assets.
| Share class | Expense ratio |
|---|---|
| JAAA | 0.20% |
Portfolio turnover 94.00% · as of 2026 Q1
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Securitized | 96.66% |
| Cash & short-term | 5.33% |
Latest quarter
What changed since the fund's previous filing
Largest new: Elmwood CLO 16 Ltd., Palmer Square CLO Ltd., Neuberger Berman Loan Advisers LaSalle Street Lending CLO II Ltd., Elmwood CLO 28 Ltd., Battalion CLO XXV Ltd., GoldenTree Loan Management US CLO 9 Ltd., Silver Point CLO 4 Ltd., Kennedy Lewis CLO 14 Ltd.
Largest exited: OCP CLO Ltd., Octagon Investment Partners 51 Ltd., Balboa Bay Loan Funding Ltd., Magnetite XXXIX Ltd., OCP Aegis CLO Ltd., Dryden 76 CLO Ltd., Sixth Street CLO XXIII Ltd., Ares LXX CLO Ltd.
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-04-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Floating rate | 100.0% |
Share of the fund's debt value in each maturity band, shortest first.
| 5-10y | 6.5% |
| 10y+ | 93.5% |
Based on what filers reported; a filer that never reported a flag also reads as none.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
Interest-rate moves barely touch this fund — but its credit exposure is real: a 100bp widening in credit spreads costs roughly 4.0%. Duration alone would have told you none of that.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Credit spreads | 99% |
| Interest rates | 1% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| Investment grade | +4.10 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 3 mo | 0.12 yr | 73% |
| 10 yr | 0.05 yr | 27% |
| 30 yr | 0.00 yr | 0% |
1 yr and 5 yr are NEGATIVE (-0.02 yr, -0.12 yr) — a deliberate hedge at that point on the curve, so they are not part of the band above.
| 3 mo | 0.01 yr | 0% |
| 1 yr | 0.42 yr | 10% |
| 5 yr | 2.98 yr | 73% |
| 10 yr | 0.68 yr | 17% |
| 30 yr | 0.01 yr | 0% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.12 | +0.01 | +0.00 | $26.7k | $0 |
| 1 yr | -0.02 | +0.42 | +0.00 | $1.14m | $0 |
| 5 yr | -0.12 | +2.98 | +0.00 | $8.02m | $0 |
| 10 yr | +0.05 | +0.68 | +0.00 | $1.83m | $0 |
| 30 yr | +0.00 | +0.01 | +0.00 | $23.2k | $0 |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Value | Shares |
|---|---|---|---|---|
| — | Janus Henderson Cash Liquidity Fund LLC | 5.33% | $1.43B | — |
| — | KKR CLO 35 Ltd.4.88% floating · due 2038-01-20 | 0.93% | $249.13M | — |
| — | AB BSL CLO 1 Ltd.4.92% floating · due 2038-10-15 | 0.85% | $229.56M | — |
| — | Anchorage Capital CLO 16 Ltd.4.93% floating · due 2038-01-19 | 0.79% | $212.16M | — |
| — | Anchorage Capital CLO 17 Ltd.4.90% floating · due 2038-02-15 | 0.77% | $207.23M | — |
| — | Carlyle US CLO Ltd.4.94% floating · due 2038-10-15 | 0.68% | $181.92M | — |
| — | Regatta XIX Funding Ltd.4.92% floating · due 2038-10-20 | 0.65% | $175.36M | — |
| — | Carlyle US CLO Ltd.4.99% floating · due 2038-01-20 | 0.65% | $175.20M | — |
| — | Magnetite XXXII Ltd.4.82% floating · due 2037-10-15 | 0.65% | $174.82M | — |
| — | Galaxy 35 CLO Ltd.4.86% floating · due 2038-04-20 | 0.64% | $171.51M | — |
Top 10 positions are 11.93% of net assets, top 25 20.78%, across 459 issuers.
See more of this fund's book
More positions with filed share counts, and the quarter-over-quarter change list rather than the largest few — free with an account, no card required.
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